(605 ILCS 5/6-803.1) (from Ch. 121, par. 6-803.1)
Sec. 6-803.1.
Surplus public real estate.
A road district may sell surplus
real estate owned by the district as provided in this Section.
(a) In road districts in counties under township organization, at
an annual or special township meeting the electors of the road district by
resolution may authorize the sale of surplus public real estate owned by the
road district. The value of the real estate shall be determined by a written
MAI certified appraisal or by a written certified appraisal of a State
certified or licensed real estate appraiser. The appraisal shall be
available for public inspection. The resolution may direct the sale to be
conducted by the highway commissioner or a person designated by the highway
commissioner or by listing the real estate with local licensed
real estate agencies (in which case the terms of the agent's compensation
shall be included in the resolution). The resolution shall be published at
the first opportunity following passage in a newspaper published in the
road district or, if there is none, then in a newspaper published in
the county in which the road district is located. The resolution shall also
contain pertinent information concerning the size, use, and zoning of the real
estate and the terms of sale. The highway commissioner may accept any contract
proposal he determines to be in the best interest of the township, but in no
event shall the real estate be sold at a price less than 80% of its appraised
value.
(b) In road districts in counties not under township organization,
the highway commissioner may sell surplus public real estate owned by the road
district. The value of the real estate shall be determined by a written MAI
certified appraisal or by a written certified appraisal of a State certified or
licensed real estate appraiser. The appraisal shall be available for public
inspection. The sale may be conducted by the highway commissioner or a person
designated by the highway commissioner or by listing the real estate
with local licensed real estate agencies. A notice of the highway
commissioner's intent to sell the real estate shall be published at the first
opportunity in a newspaper published in the road district or, if there is none,
then in a newspaper published in the county in which the road district is
located. The notice shall also contain pertinent information concerning the
size, use, and zoning of the real estate and the terms of sale (including the
terms of the real estate agent's compensation, if applicable). The highway
commissioner may accept any contract proposal he determines to be in the best
interest of the road district, but in no event shall the real estate be sold at
a price less than 80% of its appraised value.
(Source: P.A. 87-1208.)
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